Buy vs Lease

Congratulations! You're getting ready to purchase a new car. As one of the most exciting decisions you'll make in your lifetime, you're likely eager to understand more about how you can get behind the wheel as quickly as possible.

And to help you do exactly that, we're here with this Buy vs. Lease handbook created by Ira Toyota of Tewksbury. With our guide, drivers of Lowell, Dracut, and Tewksbury will learn more about the ins and outs of buying or leasing a vehicle, so that you're sure to make the right decision for your family.

Can I Trade in a Car with a Loan?

 

Buying a Car

Leasing a Car

Upfront Cost

Sizeable down payment Less money upfront

Monthly Payments

Higher monthly payment Lower monthly payment

Trade-In

Trade-in value applied to next car No trade-in available

Equity

Negative equity if you sell your car before it's paid off No potential for negative equity

Warranty

After warranty expires, owner is responsible for maintenance Maintenance is usually covered under warranty

Mileage

No limit on mileage Limited mileage according to leasing terms

Benefits of Buying!

If you prefer to have your road companion by your side for years to come, buying is a great option for you. Instead of trading in your vehicle after a few years, as you would with a lease, buying allows you to pay off your loan and own the vehicle completely once the term is completed.

Finally, choosing to finance or buy your car prevents you from worrying about mileage restrictions. So, for those of you who're road-trippers or commuters, buying your next vehicle is a great option and keeps you from exceeding any mileage limits.

Have you ever dreamed of not having a car payment? Well, if you completely pay off your loan on a financed car, you'll be able to enjoy your vehicle without the hassle of submitting monthly payments.

After you've paid off the price of your automobile, the ride is yours and all you need to worry about are gas, repair, and insurance expenses.

Benefits of Leasing

When you're the type of person who likes to always be equipped with the latest and greatest technology gadgets in your car, leasing may be the best choice for you.

Most leasing terms last about three years, which allows you to snag the most recent model every few years. That way, you can fully enjoy the newest additions to your favorite type of vehicle, like the Toyota Camry.

On top of that, depending on the price of the automobile, leasing may make it easier for you to secure lower monthly payments. That's because you're only paying the difference between the car's current value and what it's expected to be worth once your leasing term is complete, plus fees.

With that said, leasing could be a smart decision for those who don't have a significant amount of money saved up to put towards a down payment.

It's important to note, however, that because you don't own the vehicle outright, keeping up with regular maintenance and repairs is essential. That way, you can turn in your automobile without being charged for any damage done to the engine.

2019 Toyota Avalon Lease Deal

Offer 1 of 1
$419/month Lease Offer Get This Deal

2019 Toyota Avalon XLE 8-speed Automatic FWD (3544)

$419/month for 36 months with $2,999 due at signing. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

2019 Toyota C-HR Lease Deal

Offer 1 of 1
$199/month Lease Offer Get This Deal

2019 Toyota C-HR XLE Continuously Variable FWD (2404)

$199/month for 36 months with $2,999 due at signing. This includes $950 TFS Subvention Cash. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

2019 Toyota Camry Lease Deal

Offer 1 of 5
$149/month Lease Offer Get This Deal

2019 Toyota Camry 2.5L 4-Cyl LE 8-speed Automatic FWD (2532)

$149/month for 24 months with $5,994 due at signing.

2019 Camry LE - $149 per Month, Model #: 2532, $25,758 MSRP, Lease For Only $149 per Month, with $4,699 Cap Cost Reduction, Plus 1st payment, Tax, Title, Registration, State Inspection, Acquisition fee & $495 Documentation Fee, Total Due At Lease Signing Is $5,994. Lease Is For 24 Months, 24,000 Total Miles, Zero Security Deposit. Cap Cost Is $23,926, On Approved Tier 1+ Credit. Expires 08/31/2019 and must be paid in full at time of sale.

Dealer Doc Fee: $495
Show Details

2019 Toyota Camry Lease Deal

Offer 2 of 5
$289/month Lease Offer Get This Deal

2019 Toyota Camry 2.5L 4-Cyl XLE 8-speed Automatic FWD (2540)

$289/month for 36 months with $2,999 due at signing. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

2019 Toyota Camry Lease Deal

Offer 3 of 5
$400/month Lease Offer Get This Deal

2019 Toyota Camry 3.5L V6 XSE 8-speed Automatic FWD (2550)

$400/month for 36 months with $2,999 due at signing. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

2019 Toyota Camry Lease Deal

Offer 4 of 5
$225/month Lease Offer Get This Deal

2019 Toyota Camry 2.5L 4-Cyl SE 8-speed Automatic FWD (2546)

$225/month for 36 months with $2,999 due at signing. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

2019 Toyota Camry Lease Deal

Offer 5 of 5
$214/month Lease Offer Get This Deal

2019 Toyota Camry 2.5L 4-Cyl LE 8-speed Automatic FWD (2532)

$214/month for 36 months with $2,999 due at signing. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

2020 Toyota Corolla Lease Deal

Offer 1 of 2
$83/month Lease Offer Get This Deal

2020 Toyota Corolla LE Continuously Variable FWD (1852)

$83/month for 24 months with $5,927 due at signing.

2020 Corolla LE - $83 per Month, Model #: 1852, $21,254 MSRP, Lease For Only $83 per Month, with $4,699 Cap Cost Reduction, Plus 1st payment, Tax, Title, Registration, State Inspection, Acquisition fee & $495 Documentation Fee and $350 Toyota Lease Cash Rebate. Total Due At Lease Signing Is $5,927. Lease Is For 24 Months, 24,000 Total Miles, Zero Security Deposit. Cap Cost Is $19,975, On Approved Tier 1+ Credit. Expires 08/31/2019 and must be paid in full at time of sale.

Dealer Doc Fee: $495
Show Details

2020 Toyota Corolla Lease Deal

Offer 2 of 2
$169/month Lease Offer Get This Deal

2020 Toyota Corolla LE Continuously Variable FWD (1852)

$169/month for 36 months with $2,999 due at signing. This includes $350 TFS Subvention Cash. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

2019 Toyota Highlander Lease Deal

Offer 1 of 3
$133/month Lease Offer Get This Deal

2019 Toyota Highlander V6 LE 8-speed Automatic AWD (6948)

$133/month for 36 months with $5,977 due at signing.

2019 Rav4 LE AWD - $133 per Month, Model #: 4432, $28,364 MSRP, Lease For Only $133 per Month, with $4,699 Cap Cost Reduction, Plus 1st payment, Tax, Title, Registration, State Inspection, Acquisition fee & $495 Documentation Fee, Total Due At Lease Signing Is $5,977. Lease Is For 24 Months, 24,000 Total Miles, Zero Security Deposit. Cap Cost Is $26,948, On Approved Tier 1+ Credit. Expires 08/31/2019 and must be paid in full at time of sale.

Dealer Doc Fee: $495
Show Details

2019 Toyota Highlander Lease Deal

Offer 2 of 3
$299/month Lease Offer Get This Deal

2019 Toyota Highlander V6 XLE 8-speed Automatic AWD (6953)

$299/month for 36 months with $3,199 due at signing. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

2019 Toyota Highlander Lease Deal

Offer 3 of 3
$239/month Lease Offer Get This Deal

2019 Toyota Highlander V6 LE 8-speed Automatic AWD (6948)

$239/month for 36 months with $3,199 due at signing. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

2019 Toyota RAV4 Lease Deal

Offer 1 of 2
$133/month Lease Offer Get This Deal

2019 Toyota RAV4 LE 8-speed Automatic AWD (4432)

$133/month for 24 months with $5,977 due at signing.

2019 Rav4 LE AWD - $133 per Month, Model #: 4432, $28,364 MSRP, Lease For Only $133 per Month, with $4,699 Cap Cost Reduction, Plus 1st payment, Tax, Title, Registration, State Inspection, Acquisition fee & $495 Documentation Fee, Total Due At Lease Signing Is $5,977. Lease Is For 24 Months, 24,000 Total Miles, Zero Security Deposit. Cap Cost Is $26,948, On Approved Tier 1+ Credit. Expires 08/31/2019 and must be paid in full at time of sale.

Dealer Doc Fee: $495
Show Details

2019 Toyota RAV4 Lease Deal

Offer 2 of 2
$219/month Lease Offer Get This Deal

2019 Toyota RAV4 LE 8-speed Automatic AWD (4432)

$219/month for 36 months with $2,999 due at signing. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

2019 Toyota Tacoma Double Cab Lease Deal

Offer 1 of 3
$162/month Lease Offer Get This Deal

2019 Toyota Tacoma Double Cab Double Cab, Automatic SR5 6-speed Automatic 4WD (7540)

$162/month for 24 months with $6,006 due at signing.

2019 Tacoma SR5 4X4 - $139 per Month, Model #: 7540, $33,152 MSRP, Lease For Only $139 per Month, with $4,699 Cap Cost Reduction, Plus 1st payment, Tax, Title, Registration, State Inspection, Acquisition fee & $495 Documentation Fee, Total Due At Lease Signing Is $5,983. Lease Is For 24 Months, 24,000 Total Miles, Zero Security Deposit. Cap Cost Is $31,451, On Approved Tier 1+ Credit, Expires 08/31/2019 and must be paid in full at time of sale.

Dealer Doc Fee: $495
Show Details

2019 Toyota Tacoma Double Cab Lease Deal

Offer 2 of 3
$185/month Lease Offer Get This Deal

2019 Toyota Tacoma Double Cab Double Cab, Automatic SR5 6-speed Automatic 4WD (7540)

$185/month for 24 months with $3,499 due at signing. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

2019 Toyota Tacoma Double Cab Lease Deal

Offer 3 of 3
$185/month Lease Offer Get This Deal

2019 Toyota Tacoma Double Cab Double Cab, Automatic SR5 6-speed Automatic 4WD (7540)

$185/month for 36 months with $3,199 due at signing. Adding options increases payment. Security Deposit is waived unless otherwise noted. Advertised price excludes tax, tag, registration, title, and dealer fee. This offer may not apply to this vehicle. On approved credit.
Expires September 3, 2019

Dealer Doc Fee: $495
Show Details

Buy or Lease Your Vehicle Today!

At Ira Toyota of Tewksbury, we want to help drivers of Lowell, Dracut, and Tewksbury choose the purchasing opportunity that's ideal for you and your family. And no matter if you're thinking about buying or leasing your new ride, we'll support you along every step of the way.

Learn more about all the competitive options available at our dealership by stopping by our showroom for a visit, or by giving us a call today! And if you ever need a refresher, review the information packed into this Buying vs. Leasing guide.

Contact Us

Have a question? We've got the answer!

* = Required Field

Sales

Monday - Thursday 9:00AM - 8:00PM
Friday 9:00AM - 6:00PM
Saturday 9:00AM - 6:00PM
Sunday 12:00PM - 5:00PM

Schedule Service

Monday - Thursday 7:00AM - 7:00PM
Friday 7:00AM - 6:00PM
Saturday 7:00AM - 6:00PM
Sunday Closed

Parts

Monday - Thursday 7:00AM - 7:00PM
Friday 7:00AM - 6:00PM
Saturday 7:00AM - 6:00PM
Sunday Closed

Ira Collision Center of Danvers

105 Andover Street,
Danvers, MA 01923

Monday - Friday 7:30AM - 6:00PM
Saturday 8:00AM - 1:00PM
Sunday Closed
X
// end stream CTA hack